The Canadian gold giant confirmed it has reviewed the opportunity to merge with the US miner in an all-share deal.
Newmont Mining News
The companies announced their planned all-share tie-up in January, just two weeks after the Barrick-Randgold merger was finalized.
Combining major gold miners already struggling with slowing production doesn’t solve the problem, but only masks it for a single year.
Effective June 1, 2019.
The company has not yet released its 2018 full-year financials, but previously said it expects 2018 full-year AISC to be at $850 per oz. gold.
Canada’s influence on the global mining industry appears to be shrinking by the day.
Massive deal creates company that challenges rival Barrick as the world’s largest gold producer.
Experts believe the US firm could achieve $300 million in operating and cost savings from combining its mines in Nevada with those of the Canadian rival.
Falling gold and copper prices hurt the miner's results for the three months to Sep. 30.
The US miner will eventually have to invest a minimum of $3 million in Miranda Gold's Lyra project to be granted a 51% stake on it.
The US-based miner, however, cannot directly negotiate wages and other benefits with its subcontractor’s employees.
Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Other than cash sum, the US miner is receiving 60 million Maverix common shares, representing a 28% stake in the Canadian company and warrants for an additional 10 million common shares.
Goldcorp Inc. CEO David Garofalo says he’s happy with his company’s portfolio of assets, but that doesn’t mean he doesn’t have a wish list.
Despite seeing gold output decline by 2%, Newmont claimed the title of world’s biggest bullion producer as it surpassed rival Barrick by 16,000 ounces in the first three months of the year.
One of the main findings from the report disclosed transparency as the greatest factor keeping companies from maximizing their score.
Operations were shut down on Saturday following an accident in which six construction workers were killed.
The boss of the world's top gold miner has bought 306,000 additional shares in the company.
The gold miner’s employees will receive this year 90 shares each, taking the total held by staff to more than 1.5 million shares.
Miner is advancing a pipeline of projects expected to contribute more than 1 million ounces of annual production starting in 2021.
About 50,000 ounces — roughly 125 gold bars — is all that stands in the way of Newmont overtaking Barrick as world's No.1 bullion miner.
Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.
With seven greenfield projects Denver gold miner on track to increase global share of gold production to 5%.
The world’s No.2 gold miner is also planning to boost dividend by at least 50% next year, based on balance sheet improvements and the performance of its gold mines.
Companies have until Nov. 2 to sign up for the auction and the winner will be announced on Dec. 20